The Weekly MACD chart is currently forming a "W". I saw this formation in back in April on the daily chart which resulted in an upward price movement. This time, it is forming in the weekly chart, if the W formation materialized, i expect a big upward move. Watch out for this formation and be careful out there. cheers :-)
BTC is bouncing inside the small triangle (1 hr chart). It is starting to curl downwards as of this writing. If the pattern holds, it should hit the bottom support line and begin to move upwards. If not, i think it will retest the prior low around 6k.
On the other hand, the bigger time frame (daily) is also getting close to the apex of the bigger triangle. I also...
If LTC-USD repeat the triangle pattern in purple, it will complete the abcde correction. Don't know which direction it will break out, i'm hoping its upside. One thing is for sure, there will be a breakout near the apex of the triangle and a trading opportunity coming soon. Lets see how the price progress.
What do you think ?
BTC is slowly making progress and breaking resistance lines. Will it continue as it approach some major resistance? I think it will, what do you guys think ?
